HB Wealth Management LLC Decreases Stock Holdings in Rockwell Automation, Inc. $ROK

Key Points

• HB Wealth Management LLC reduced its stake in Rockwell Automation, Inc. by 48.8% during the second quarter, now holding 2,950 shares valued at approximately $980,000.
• Several hedge funds have initiated new positions in Rockwell Automation recently, with a total of 75.75% of the stock owned by institutional investors.
• Rockwell Automation reported a quarterly earnings per share (EPS) of $2.82, surpassing analysts' expectations of $2.67, with revenues of $2.14 billion for the quarter.

HB Wealth Management LLC trimmed its stake in shares of Rockwell Automation, Inc. (NYSE:ROK - Free Report) by 48.8% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,950 shares of the industrial products company's stock after selling 2,813 shares during the period. HB Wealth Management LLC's holdings in Rockwell Automation were worth $980,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in ROK. Citizens National Bank Trust Department purchased a new position in shares of Rockwell Automation during the first quarter valued at approximately $26,000. Financial Gravity Asset Management Inc. bought a new stake in Rockwell Automation during the first quarter valued at approximately $31,000. IMA Advisory Services Inc. bought a new stake in Rockwell Automation during the first quarter valued at approximately $32,000. Cooksen Wealth LLC bought a new stake in Rockwell Automation during the first quarter valued at approximately $34,000. Finally, Legend Financial Advisors Inc. bought a new stake in Rockwell Automation during the second quarter valued at approximately $39,000. 75.75% of the stock is owned by hedge funds and other institutional investors.

Rockwell Automation Stock Up 0.1%

Shares of ROK stock opened at $349.05 on Friday. The stock has a market cap of $39.24 billion, a P/E ratio of 40.97, a PEG ratio of 3.14 and a beta of 1.41. Rockwell Automation, Inc. has a 52 week low of $215.00 and a 52 week high of $360.92. The company has a quick ratio of 0.72, a current ratio of 1.06 and a debt-to-equity ratio of 0.72. The company's fifty day simple moving average is $344.60 and its two-hundred day simple moving average is $311.65.

Rockwell Automation (NYSE:ROK - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The industrial products company reported $2.82 EPS for the quarter, topping the consensus estimate of $2.67 by $0.15. The business had revenue of $2.14 billion for the quarter, compared to analysts' expectations of $2.07 billion. Rockwell Automation had a net margin of 12.03% and a return on equity of 30.14%. The business's quarterly revenue was up 4.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.71 EPS. Analysts predict that Rockwell Automation, Inc. will post 9.35 EPS for the current fiscal year.

Insiders Place Their Bets

In other Rockwell Automation news, VP Terry L. Riesterer sold 269 shares of Rockwell Automation stock in a transaction on Thursday, July 17th. The shares were sold at an average price of $355.26, for a total value of $95,564.94. Following the completion of the transaction, the vice president directly owned 1,613 shares of the company's stock, valued at $573,034.38. This trade represents a 14.29% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Blake D. Moret sold 24,400 shares of Rockwell Automation stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $350.13, for a total transaction of $8,543,172.00. Following the completion of the transaction, the chief executive officer directly owned 83,873 shares of the company's stock, valued at $29,366,453.49. The trade was a 22.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 31,922 shares of company stock worth $11,191,812. 0.68% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Bank of America upgraded shares of Rockwell Automation from a "neutral" rating to a "buy" rating and boosted their target price for the company from $360.00 to $410.00 in a research report on Wednesday, July 16th. Citigroup reiterated a "buy" rating and issued a $392.00 price target (up from $371.00) on shares of Rockwell Automation in a research report on Monday, July 14th. Stephens reiterated an "overweight" rating and issued a $375.00 price target (up from $350.00) on shares of Rockwell Automation in a research report on Wednesday, July 16th. Barclays upped their price target on shares of Rockwell Automation from $357.00 to $370.00 and gave the stock an "overweight" rating in a research report on Thursday, August 14th. Finally, Weiss Ratings reiterated a "buy (b-)" rating on shares of Rockwell Automation in a research report on Saturday, September 27th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, six have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, Rockwell Automation presently has a consensus rating of "Moderate Buy" and a consensus price target of $340.16.

Rockwell Automation Company Profile

Rockwell Automation, Inc provides industrial automation and digital transformation solutions in North America, Europe, the Middle East, Africa, the Asia Pacific, and Latin America. The company operates through three segments, Intelligent Devices, Software & Control, and Lifecycle Services. Its solutions include hardware and software products and services.

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